With the RBI ban on Paytm, you must be wondering about its impact, especially on Paytm FASTag. Let's find out how to deactivate Paytm FASTag in this article
FASTags have made travelling on India's highways a breeze by enabling automatic toll payments. However, recent restrictions by the Reserve Bank of India (RBI) on Paytm Payments Bank Ltd. (PPBL) will close Paytm FASTag operations, meaning it’s in users’ best interests to deactivate Paytm FASTag and get a new one.
This situation could also arise for various reasons, such as changing your vehicle, your FASTag not working correctly, or you simply want to use a different provider due to any new changes. In this blog, we will help you deactivate Paytm FASTag and guide you through getting a new one, ensuring your road trips stay smooth and hassle-free.
But first, what’s the situation surrounding the ban on Paytm?
Let’s break down the Paytm ban and its impact on services offered by Paytm:
Starting from March 2024, Paytm Payments Bank is required to halt all new deposits into its accounts or digital wallets. This move is a response to ongoing issues with the bank's compliance with supervisory concerns despite RBI's repeated notices to address these problems.